Findings published by crypto data site CoinGecko show that the majority of non-fungible token (NFT) holders own 51 or more NFTs. Those holding only a single NFT were the smallest group of respondents. Published April 6, the CoinGecko report, in conjunction with Blockchain Research Labs, reviewed 438 responses between December 2022 and January 2023.
At least a quarter of NFT holders (26.5%) said they were “avid collectors,” owning 51 or more NFTs at the time of the survey. The report notes that this group may represent the most enthusiastic NFT enthusiasts. It states: “This shows that people rarely stop participating in NFTs after the first time.” They are followed by holders of two to five NFTs (17.6%), and holders of only one NFT account for only 4.8%.
Nearly four in 10 respondents (38.8%) acquired their first NFT during the first bull market in 2021. Despite the cryptocurrency entering a bear market in 2022, it still recorded the second-highest influx of new NFT collectors in the past five years, with just over 25% acquiring their first NFT during the year. Meanwhile, just 2.9 percent got their first NFT in 2017, the same year Crypto Kitties and CryptoPunks launched.
The report goes on to state that the development of NFTs could accelerate adoption in 2023, citing Bitcoin Ordinals and Stamps NFTs, as well as Blur surpassing OpenSea as the top NFT marketplace. Recently, OpenSea launched OpenSea Pro on April 5, an NFT market aggregator designed to serve the needs of professional users, an improved version of the NFT aggregator that OpenSea acquired in April 2022.
